Comments on: Tyson and Hubbard, blithe technocrats http://blogs.reuters.com/felix-salmon/2010/10/12/tyson-and-hubbard-blithe-technocrats/ A slice of lime in the soda Sat, 18 May 2013 23:43:55 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: dedalus http://blogs.reuters.com/felix-salmon/2010/10/12/tyson-and-hubbard-blithe-technocrats/comment-page-1/#comment-19307 dedalus Wed, 13 Oct 2010 03:10:26 +0000 http://blogs.reuters.com/felix-salmon/?p=5753#comment-19307 Bust 'em Felix. I'm tired of Tyson, Hubbard, Summers, and all the rest of that generation of self-exculpating, leveraging-up enablers. They ought to be cashiered. Put Austan Goolsbee into the game. His ideas couldn't be any more ruinous than his predecessors. As Helen Lovejoy often says: "Won't somebody please think of the children?" Bust ‘em Felix. I’m tired of Tyson, Hubbard, Summers, and all the rest of that generation of self-exculpating, leveraging-up enablers. They ought to be cashiered.

Put Austan Goolsbee into the game. His ideas couldn’t be any more ruinous than his predecessors.

As Helen Lovejoy often says: “Won’t somebody please think of the children?”

]]> By: jhedges http://blogs.reuters.com/felix-salmon/2010/10/12/tyson-and-hubbard-blithe-technocrats/comment-page-1/#comment-19304 jhedges Wed, 13 Oct 2010 00:59:40 +0000 http://blogs.reuters.com/felix-salmon/?p=5753#comment-19304 Oh god, Felix has his "populist" hat on again. I guess he needs to do this occasionally to maintain his anti-big bank/elites credibility. That's fine I guess, but just know that you're not fooling anyone who actually knows what they're talking about. It's telling that Felix mocks Tyson for saying "And the Obama administration — they’re good guys! They’re reaching out to the business community!" It's telling because Tyson is right: the Obama administration <i>has</i> been doing the right thing policy-wise, and they <i>have</i> been reaching out to the business community. And the public isn't "clamoring for" change at the NEC. The public doesn't even know what the NEC is, let alone who heads the NEC. Oh and Charles Ferguson? Please. "Inside Job" was an utter hack-fest. Oh god, Felix has his “populist” hat on again. I guess he needs to do this occasionally to maintain his anti-big bank/elites credibility. That’s fine I guess, but just know that you’re not fooling anyone who actually knows what they’re talking about.

It’s telling that Felix mocks Tyson for saying “And the Obama administration — they’re good guys! They’re reaching out to the business community!” It’s telling because Tyson is right: the Obama administration has been doing the right thing policy-wise, and they have been reaching out to the business community.

And the public isn’t “clamoring for” change at the NEC. The public doesn’t even know what the NEC is, let alone who heads the NEC.

Oh and Charles Ferguson? Please. “Inside Job” was an utter hack-fest.

]]> By: fresnodan http://blogs.reuters.com/felix-salmon/2010/10/12/tyson-and-hubbard-blithe-technocrats/comment-page-1/#comment-19299 fresnodan Tue, 12 Oct 2010 21:51:09 +0000 http://blogs.reuters.com/felix-salmon/?p=5753#comment-19299 Certainly it’s odd that the two economists, whose entire profession is based upon the premise that incentives matter, should be so resistant to the idea that the millions of dollars they’ve earned from the financial-services industry might in any way color their actions or beliefs. Uh, certainly it NOT odd when it is obvious that their wealth is accumulated by toadying the official line. I am a big believer in the free market, but it is obvious that the incentives of the managers of financial institutions and the share holders are not aligned. It is just silly to pretend that being paid in stock, when the price is fragrantly manipulated that managers are allowed to buy the stock at, constitutes any kind of real incentive other than to engage in short term risky behavior. Make money, get huge bonuses, lose money, get huge bonuses. Certainly it’s odd that the two economists, whose entire profession is based upon the premise that incentives matter, should be so resistant to the idea that the millions of dollars they’ve earned from the financial-services industry might in any way color their actions or beliefs.

Uh, certainly it NOT odd when it is obvious that their wealth is accumulated by toadying the official line.
I am a big believer in the free market, but it is obvious that the incentives of the managers of financial institutions and the share holders are not aligned. It is just silly to pretend that being paid in stock, when the price is fragrantly manipulated that managers are allowed to buy the stock at, constitutes any kind of real incentive other than to engage in short term risky behavior. Make money, get huge bonuses, lose money, get huge bonuses.

]]> By: Gotthardbahn http://blogs.reuters.com/felix-salmon/2010/10/12/tyson-and-hubbard-blithe-technocrats/comment-page-1/#comment-19292 Gotthardbahn Tue, 12 Oct 2010 20:13:28 +0000 http://blogs.reuters.com/felix-salmon/?p=5753#comment-19292 Gee, an anti-elites article from Felix Salmon. Didn't he skewer the Davos crown last winter? That's twice this year - wow. Gee, an anti-elites article from Felix Salmon. Didn’t he skewer the Davos crown last winter? That’s twice this year – wow.

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